1、 本科毕业论文外文翻译 外文题目： Opportunities and Challenges facing Community Bank 出 处： Economic Perspectives, 2002, 26(December):2-8.
2、 作 者： Ted Johnson &n
3、bsp; 原 文 ： Opportunities and Challenges facing Community Banks Ted Johnson Community banks have long been the backbone of the US banking system. Since their inception, they have served as a driving force behind the growth of small- to mid-sized businesses from
4、 major cities to rural outposts across the country. While they face challenges similar to their larger, historically more diversified competitors, down markets often present community banks with unique opportunities. Community banks are frequently able to capitalize on customers growing dissatisfact
5、ion with larger banks. Uncertainties caused by the credit crisis, and a dismissive attitude and lack of flexibility are causing increasing numbers of individuals and businesses to seek services provided by community banks. Their success in capitalizing on this sentiment is contingent on community ba
6、nking leaderships ability to recognize and react quickly to its customers changing needs. Unlike larger competitors, community banks see their success as inextricably linked with that of the community as a whole, both with business and individual customers. Many have weathered the past decades by ma
7、intaining an aggressive yet conservative strategy based on a focused mission to serve their communities. Yet, they must do more with less. With shrinking net interest income, they must meet burdensome regulation and compliance edicts； Bank Secrecy Act (BSA) and Graham Leach Bliley (GLBA) are example
8、s that carry stiff monetary penalties for non-compliance, embrace new technologies and services, and offer competitive products and rates while still providing the personal touch. Success depends on leadership that seizes appropriate opportunities, meets challenges and builds cohesive cultures
9、. To augment Korn/Ferrys experiential data, a number of senior-level executives provided insights concerning the state of community banking. Additionally, we surveyed executives who are regularly involved in the hiring process at both national and community banks and using Korn/Ferrys behavioral ass
10、essment methodology, analyzed the similarities and differences in what large banks and small banks look for when hiring a business leader. Market Opportunities for Community Banks Community banks have four significant competitive opportunities: local decision making, customized solutions for small b
11、usiness, remote deposit capture and full investment management. 1. Local Decision Making. Though larger regional and national banks have tried to infiltrate smaller markets, their protracted processes, rigid internal standards and credit committees have not provided the service desired b
12、y customers. Customers want to work directly with individuals who make decisions. Community bank executives are actively vested in the community, having developed long-term relationships and an intimate knowledge of the unique nature of the small business owners needs. This knowledge facilitates qui
13、cker resolution. 2. Customized Solutions for Small Businesses. The primary economic driver of smaller and rural communities is small- to medium-sized businesses. These businesses want to deal with local decision makers. Because they possess intimate knowledge of the area, the individual and the busi
14、ness potential, community banks are able and willing to provide a customized approach to serving small businesses. Small businesses have fundamentally different and more rapidly changing needs than many of their larger competitors, and therefore require a bank that is able to make quick adjustments
15、to its products and service approach. 3. Remote Deposit Capture. The ABA Banking Journals 12th Annual Community Bank Competitiveness Survey found that 38 percent of the 656 participants offered remote deposit capture in 2008, more than double that in 2007 (16 percent). “ Smaller banks with tec
16、hnology can stay at the leading edge, Downers Grove National Banks Russ points out. His bank uses remote deposit capture and always embraced new technologies, being the first in the community to have an ATM and open a branch in a local grocery chain that remained open seven days a week. Of 33 local
17、banking service providers, his bank is currently ranked number one. 4. Full Investment Management. Many community banks offer full investment management services to an underserved market. Larger banks accept a minimum portfolio, usually $3 million, providing no investment options for a broad s
18、pectrum middle-class individuals. Community banks offer what members of this market desire: personalized service custom tailored approach to investing and a trusted advisor who is going to be th for the long term. Competing on Customer service As technology narrows the gap between products offered b
19、y large and small banks, community banks must distinguish themselves and communicate their value to new and existing customers. While the four areas outlined above represent excellent growth opportunities, superior service delivery is required to retain a competitive edge. According to Palen,
20、the personal touch means everything. Ive had customers say I know I can get it a little cheaper from the big banks, but I get such good service from you, Im going with you. Our customers value our community banking business model, says Chemung Financiers Bentley. They want a relationship where
21、 they know who the banker is. In the bigger banks, relationship manager turnover is high. The value of hiring and staffing to community banks is reflected in that characteristic being rated as Mission Critical in the research results . Community banks also provide a new, alternative experience to individuals in larger markets. Herr explains, Weve been successful in the Bloomington/Normal market because people like the environment offered by a community bank. They walk in and have a quick transaction with people who know them.
